Free Trial

Friday's late risk-on flow allowed AUD/USD...>

AUSSIE: Friday's late risk-on flow allowed AUD/USD to breach the Aug 13
high/psychological $0.7300, with the pair last dealing 10 pips or so softer on
the day at ~$0.7305. The pair has failed to advance in early dealing this week,
with a continuation in strained U.S.-Turkey relations dampening risk appetite.
Initial support is now noted at Friday's low ($0.7253), with resistance in place
at the 50% retracement of the move from $0.7453 to $0.7203 ($0.7328).
- AUD traders will look to the release of the RBA's meeting minutes from its
August meeting, due Tuesday, with plenty of additional RBA-speak dotted
throughout the week (in the form of Gov. Lowe, Asst. Gov. Debelle & Boulton).
Economic releases include the AU Q2 completed construction print. Friday's
headlines from the WSJ noting that China & the U.S. are aiming for trade talks
between Xi & Trump in November will put increased focus on trade talks between
the 2 superpowers later this week, ahead of the scheduled imposition of a 25%
U.S. tariff on $16bn worth of imported Chinese goods.
- Nearby notable FX option expiries at today's 10AM NY cut: $0.7210(A$1.29bn),
$0.7220(A$1.2bn), $0.7395-0.7405(A$915mn).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.